Tag: terrorist financing
Seven key insights into the US’s beneficial ownership reporting requirements
In a stride towards combating financial crimes, the US introduced the CTA, designed to peel back the layers of secrecy often associated with business...
EBA issues new guidelines to enforce travel rule
The European Banking Authority (EBA) today announced the introduction of new Guidelines concerning the 'travel rule' for fund and crypto asset transfers.
Revolutionising AML strategies: The power of human-technology synergy in compliance
The significance of modern Anti-Money Laundering (AML) compliance cannot be overstated, especially in an era where digitalisation is a cornerstone of our daily interactions. While RegTech has revolutionised the approach to combating financial crimes like money laundering and terrorist financing, it's crucial to acknowledge that technology alone isn't the panacea.
The critical role of risk assessment in preventing financial crime
In the rapidly evolving financial services industry, the importance of effective risk assessment is often overlooked.
PSP growth acceleration: Overcoming compliance hurdles in the FinTech sector
The landscape for Payment Service Providers (PSPs) is rapidly evolving, with a pressing need to scale operations effectively while managing Anti-Money Laundering (AML) compliance risk. RegTech company Fenergo has released a report outlining how payment service providers can reduce AML compliance risk.
Global financial threads: The risks and rewards of correspondent banking
Correspondent banking plays a pivotal role in shaping the global financial landscape. Serving as the backbone of international trade, especially for budding and developing economies, it offers a platform for banks to provide services on behalf of other financial institutions, typically situated in diverse countries. This extends to executing transactions, overseeing wire transfers, and collecting crucial documents.
Money laundering concerns in the EU: EBA’s plan for boosting AML/CFT...
In a recent post by Fenergo, the company outlined how a recent report by the EBA is changing payments in the European Union.
Transforming finance with dynamic risk assessments
Unlocking the potential for commercial success, dynamic financial crime risk assessments offer a multitude of benefits for financial institutions. Acuminor, a RegTech company explained...
Arctic Intelligence releases AML Industry Benchmarking Report 2022
The biggest challenge that compliance teams face with their money laundering and terrorist financing (ML/TF) risk assessments are gathering the data and evidencing effectiveness.
BaFin orders N26 to improve prevention of money laundering and terrorist...
German Federal Financial Supervisory Authority (BaFin) has ordered challenger bank N26 to improve its prevention of money laundering and terrorist financing.
